India is expected to provide lucrative opportunities for the growth of the Masterbatch market during 2020-25 owing to the major factors such as a growing automotive sector, rising number of facilities for plastic processing, and burgeoning demand for innovative solutions from end-user industries. Moreover, rising preference toward the utilization of plastic and polymers for manufacturing light weight vehicles, extensive demand for masterbatch among end users such as healthcare, aerospace, electronics, consumer goods, etc., and growing concerns associated with usage of environment-friendly products are some of the vital factors expected to augment demand for masterbatches in the country in the forecast period.
According to MarkNtel Advisors’ research report “India Masterbatch Market Analysis, 2020”, the India Masterbatch market is anticipated to grow at a CAGR of 11% during 2020-25. Based on Type, White masterbatch acquired the majority market share in the India masterbatch market in 2019. The burgeoning demand for plastic in food material packaging and pharmaceutical packaging is projected to fuel the demand for white masterbatch in the coming years. Moreover, Black masterbatch segment is also witnessing sturdy growth owing to its wide applications in manufacturing of various packaging boxes, automotive components, and construction materials such as pipes and cables.
“India Masterbatch Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Masterbatch providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Automotive Acquired the Significant Market Share
By End User, Automotive acquired the significant market share in 2019 on account of bolstering government initiatives toward the adoption of electric vehicles, such as National Electric Mobility Mission and Automotive Mission Plan 2026 in order to curb greenhouse emissions. Beside this, the surge in the production of vehicles due to the rise in disposable income and paradigm shift from metal parts to plastic components by the manufacturers in order to achieve greater fuel efficiency are escalating the demand for masterbatches in the automotive industry. Thus, these are expected to bolster the growth of the Masterbatch Market in the forthcoming period as stated in MarkNtel Advisors’ research report “India Masterbatch Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the India Masterbatch market are Clariant Masterbatches (India) Ltd., Ingenia Polymers Co. Ltd., LyondellBasell, Ampacet Corporation, Cabot India Ltd., Alok Masterbatches Pvt Ltd, Poddar Pigments Limited, Plastiblends India Limited, Blend Colors Pvt. Ltd., Ampacet Specialty Product Pvt. Ltd., Orbit Masterbatches Pvt. Ltd., etc.
Key questions answered in the study: